The installment rates of different banks are different. You can calculate them according to the specific situation. The following is the algorithm for the installment rates:

1. The principal should be repaid in each installment of consumption installments. Fund = total consumption installment principal ÷ number of installments.

2. The handling fee per installment for consumption installments = the principal payable per installment for consumption installments × the corresponding number of installments and the handling fee rate for each installment.

3. The handling fee per bill installment = the principal payable per bill installment × the corresponding number of installments and the monthly installment handling fee rate.

4. The number of periods that can be applied for invoice installments are 3, 6, 9, 12, 18, 24 and 36.

5. Once the installment application is successful, it is irrevocable. Even if the installment is terminated early, the handling fee for each installment will still be charged.

Extended information:

The main benefits of credit card installment payment:

1. Enjoy first, pay later.

2. No guarantor required and the procedure is simple.

3. Fixed time and fixed amount, easy payment.

4. You can choose any monthly repayment amount as you like

5. More options for payment methods.

Notes on credit card installment payment

1. Choose the appropriate number of installments

Since most credit card installment applications are successful, you cannot cancel or change the number of installments. . Therefore, everyone should make a good choice before applying for installment payment. The handling fee standards of each bank are also different. According to the specific standards of the bank, choosing the appropriate number of periods can reduce the handling fee.

2. Installment will occupy the credit card limit

Some friends believe that after the credit card installment, the limit will still be the original limit, but this is not the case. After applying for bill installment, the credit limit will be restored in full only when the amount is paid off in full. Paying off the current installment will only restore the amount of the corresponding amount paid off.

3. Installment bills that have been applied for cannot be re-installed

After applying for bill installment, the repayment amount and installment handling fee of each installment will be included in the minimum repayment amount of the current period. of. In other words, the bill installment that has been applied for cannot be re-installed. In the current month's bill repayment, this part of the payment should be paid first.

4. You still need to pay a handling fee for early repayment

There are two main types of handling fees charged by banks. One is to charge a one-time handling fee in the first month. , no charges will be made thereafter. The other is to charge monthly, that is, a certain handling fee is charged every month until the end of the installment. But no matter which method is used, if the consumer chooses to repay the loan early, he still has to pay the full installment fee at that time. Even if you pay off the card in advance and stop the installment, the handling fee will not be less, and repaying in advance is meaningless.

5. Avoid penalty interest

If the consumer fails to return the installment amount to the bank in time within the time limit, he will also pay a high "principal amortization late fee". If you have to repay 10,000 yuan every month, but forget it for some reason, you will pay a penalty interest of 50,000 yuan per day. In this way, you will pay an extra 150 yuan a month, which is higher than the repayment interest. . Not only will you not be able to enjoy the interest-free payment, but it will also cause a bad credit record, which is not worth the loss.

Reference: Baidu Encyclopedia-Credit Card Installment